Category Archives: OilGas
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India’s Oil Import Price Drops Below $70 for the First Time Since 2021
Posted on April 15, 2025 by Diligentia News in OilGas.The average price of India’s crude oil imports fell to below $70 per barrel this month, for the first time since 2021, as international benchmarks plunged amid trade and tariff uncertainty. India, which imports 88% of the crude it consumes, saw its average cost of crude oil imports plunge by 17.87% in April compared to […]
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Can US India energy bridge work
Posted on April 15, 2025 by Diligentia News in OilGas.When it comes to ensuring a stable supply of Liquefied Natural Gas (LNG), India needs to maintain strong diplomatic ties with only the four largest gas suppliers, i.e. US, Qatar, Australia and Russia, said Crown LNG’s CEO Swapan Kataria. Kataria leads a company, which develops, finances, owns and operates LNG terminals in locations exposed to […]
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Back to Russian gas? Trump-wary EU has energy security dilemma
Posted on April 15, 2025 by Diligentia News in OilGas.More than three years after Russia’s invasion of Ukraine, Europe’s energy security is fragile. U.S. liquefied natural gas helped to plug the Russian supply gap in Europe during the 2022-2023 energy crisis. But now that President Donald Trump has rocked relationships with Europe established after World War Two, and turned to energy as a bargaining […]
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Gas meters must be verified before use in commerce under new draft rules: Govt
Posted on April 15, 2025 by Diligentia News in OilGas.The Department of Consumer Affairs has proposed draft rules mandating the verification, testing and stamping of all gas meters used for domestic, commercial and industrial purposes before they are put to use, in a move aimed at promoting accuracy in gas measurement across India’s trade and commerce sectors. According to the draft framed under the […]
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Govt plans cheap gas lifeline for LNG trucks; aims to revive closed outlets
Posted on April 15, 2025 by Diligentia News in OilGas.The government is considering the allocation of cheap, locally produced natural gas to trucks running on liquefied natural gas (LNG) — India’s new gas demand centre and a cleaner alternative to the country’s polluting diesel-based transport — after state-run refiner Indian Oil was forced to shut nearly all its LNG retail outlets due to high […]
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Goldman Sachs Cuts Oil Price Outlook Once Again
Posted on April 14, 2025 by Diligentia News in OilGas.Goldman Sachs has reduced its outlook for oil prices for the third time since the start of April, now expecting Brent crude to average $63 this year and $58 in 2026. The bank sees WTI at an average of $59 per barrel this year, falling to $55 in 2026, Reuters reported. The update follows one […]
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Oil Outlook Takes a Beating from Trade War Jitters
Posted on April 14, 2025 by Diligentia News in OilGas.Crude oil is set to end another week with substantial losses as markets reel from President Trump’s tariff offensive, despite the fact he pulled the punch at the last second. With one notable exception: China. As Beijing and Washington take turns to up the ante, the outlook for oil and energy in general has gone […]
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BP bets on NEC-25 for gas surge, credits PM Modi’s reforms
Posted on April 14, 2025 by Diligentia News in OilGas.Global energy giant BP Plc, which produces one-third of India’s natural gas, is targeting nearly 10 million cubic meters per day of additional output from the NEC-25 block in the Mahanadi basin, spurred by recent upstream reforms introduced by the Modi government. Its chief executive Murray Auchincloss said India’s upstream oil and gas policy overhaul […]
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Back to Russian gas? Trump-wary EU has energy security dilemma
Posted on April 14, 2025 by Diligentia News in OilGas.More than three years after Russia’s invasion of Ukraine, Europe’s energy security is fragile. U.S. liquefied natural gas helped to plug the Russian supply gap in Europe during the 2022-2023 energy crisis. But now that President Donald Trump has rocked relationships with Europe established after World War Two, and turned to energy as a bargaining […]
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US sanctions Indian national, 2 India-based entities for transporting Iranian petroleum
Posted on April 11, 2025 by Diligentia News in OilGas.The US has sanctioned a United Arab Emirates-based Indian national and two India-based entities operating as part of Iran’s “shadow fleet” and involved in shipping Iranian oil. Jugwinder Singh Brar owns multiple shipping companies that boast a fleet of nearly 30 vessels, many of which operate as part of Iran’s “shadow fleet”, the US Department […]
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